Did Biocon shareholders get syngene shares?
While the retail portion of the issue was subscribed 1.62 times, Biocon shareholders’ portion remained under subscribed. The company plans to use the funds to expand parent Biocon’s bio-similar molecule portfolio. Biocon owns 83.6 per cent stake in Syngene, of which it will sell 11 per cent through this issue.
Is Syngene and Biocon same?
Biocon Limited is an Indian biopharmaceutical company that is based in Bangalore, India founded by Kiran Mazumdar-Shaw. In contract research services, Syngene International Limited (Syngene), a publicly listed subsidiary of Biocon.
Is syngene owned by Biocon?
Biocon acquired 99.99% of Syngene from its other shareholders, including ICICI Venture and its affiliate funds, which divested their entire stake in Syngene in exchange for issue of shares by Biocon. Syngene was made a 99.99% subsidiary of Biocon Limited.
What type of company is syngene?
Syngene is an integrated research, development and manufacturing organisation providing scientific services – from early discovery to commercial supply.
Is syngene a pharmaceutical company?
Company Description: SYNGENE INTERNATIONAL LIMITED is located in Bengaluru, Karnataka, India and is part of the Pharmaceutical and Medicine Manufacturing Industry.
Who is the owner of syngene?
Biocon
Syngene International Limited/Parent organizations
Syngene International Limited is an internationally reputed custom research and manufacturing organisation which supports R&D programs from lead generation to clinical supplies. The company was promoted by Biocon and Kiran Mazumdar Shaw a promoter of Biocon Limited.
Who is the parent company of Biocon India?
Biocon Biochemicals Ltd, Ireland, including its subsidiaries, are acquired by Unilever Plc. and merged with its wholly-owned subsidiary Quest International, The Netherlands. Biocon India begins producing enzymes for Unilever’s food businesses.
What kind of bioreactor does Biocon use?
Biocon’s proprietary bioreactor PlaFractor is granted a U.S. and worldwide patent. Biocon establishes a joint venture company, Biocon Biopharmaceuticals Pvt Ltd, with CIMAB S.A., a Cuban biotechnology company, to manufacture biologicals developed by CIMAB, including Nimotizumab & Itolizumab monoclonal antibodies.
When did Biocon divest its stake in AxiCorp?
Biocon acquires a 70% stake in German pharmaceutical company, AxiCorp GmbH, for a consideration of EUR30 million to market and distribute a range of biopharmaceuticals in Germany and the rest of Europe. Biocon divested its stake in AxiCorp in 2011. Biocon and Mylan signed one of the earliest partnerships in the global biosimilars space
What are the biosimilars that Biocon is developing?
Biocon partners with U.S.-based Mylan for the co-development of a high-value portfolio of biosimilars for oncology and autoimmune indications. The portfolio initially included three monoclonal antibodies — Trastuzumab, Bevacizumab and Adalimumab — and two recombinant proteins — Pegfilgrastim and Etanercept.